48Requirements for grant agreements

48 Requirements for grant agreements

Maximum period of agreement (1) For the purposes of paragraph 9(2)(b) of the Act, a grant agreement must not be for a period longer than 2 years. Limit on total amount of grants (2) For the purposes of paragraph 9(2)(c) of the Act, the total amount of the grant payable under a grant agreement must not be such that the total of the grant, together with any earlier grants paid to the grantee, exceeds $770,000. (3) Subsection (2) does not apply if the grantee is a representative body. (4) For the purposes of subsection (2): (a) a reference to a grant includes a grant within the meaning of: (i) the Act as in force at any time; or (ii) the Export Market Development Grants Act 1974 as in force at any time on or after 1 July 1990; and (b) the total amount of grants paid to a grantee includes grants paid to another person (including another person that has ceased to exist), if the CEO of Austrade is satisfied that the grantee is in substance conducting the business that the other person conducted, having regard to any of the following: (i) the nature and assets of the businesses conducted by the grantee and the other person; (ii) the individuals controlling or constituting the grantee and the other person; (iii) any other matters the CEO of Austrade considers relevant.